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3. If the total face value of all life insurance policies that generate a CSV equals or exceeds the amount left in the $1500 burial exclusion, the burial exclusion is used up. 4. If there is any amount of exclusion left, continue to the next excludable item, XIII.D. NOTE: Life insurance and burial insurance policies which do not accrue a cash value are not deducted from burial exclusion and are not a countable resource. See VII.I.2.a. for treatment of any dividends paid by a term life policy. D. Revocable Burial Arrangements After deducting irrevocable burial arrangements and face value of life insurance policies that do not exceed $10,000 which generate a cash value, deduct the value of a revocable burial contract with a funeral home or other revocable trust or annuity established for burial expenses from the amount left in the $1500 burial exclusion. 1. Revocable means the funds are available and can be withdrawn. 2. A revocable trust or annuity which is not limited to payment of burial expenses within the body of the agreement cannot be excluded under burial exclusion policy. 3. Deduct the value of the revocable burial arrangement from the amount left in the $1500 burial exclusion. 4. A revocable burial trust may appreciate in value or accumulate interest. a. Verify the value at application. Once the application is approved, at redeterminations ignore any subsequent increase in value due to interest/accumulation of a revocable burial trust which has been excluded through burial exclusion. b. If the case is later terminated and a/b reapplies, count the full value of the revocable trust in the verification month. 5. If the value of the revocable burial arrangement exceeds the amount left in the $1500 burial exclusion at application: a. Burial exclusion is used up; AND b. Excess amount of the revocable arrangement counts in resources. 6. In the record, document the amount of the revocable arrangement which was counted in resources at point of Medicaid approval and count this amount in resources at review unless the revocable arrangement is changed to 101